MAUI Imaging Pitch Deck: All 17 Slides + Teardown

The Series D Technical Narrative

MAUI Imaging’s 17-slide deck is a highly specialized document designed for sophisticated healthcare investors. As a Series D company, MAUI is no longer selling a dream; they are selling a validated, FDA-cleared technology with a massive intellectual property moat. The deck focuses heavily on the 'physics' of their solution, contrasting their 'Computed Echo Tomography' (CET) against the decades-old limitations of traditional ultrasound. By the time an investor reaches the team slide, the company has already established that they can see through bone and gas—the 'holy grail' of portable imaging.

Slide 1: The MAUI System

The title slide features a high-resolution photograph of the hardware. It shows a ruggedized tablet interface sitting atop a blue processing unit, with a specialized ultrasound probe resting on the side. This immediately establishes that the product is real, physical, and ready for clinical environments. There is no fluff here; the focus is entirely on the device itself.

Slide 2: Value Proposition and Regulatory Status

Slide 2 serves as the executive summary. It defines MAUI as an 'ultrasound-based imaging solution' and highlights two critical de-risking factors: over 100 patents and FDA clearance. For a Series D round, confirming FDA clearance early is vital, as it shifts the investment risk from 'will it be allowed?' to 'how fast can it scale?'

Slide 3: The Trauma Use Case

This slide introduces the primary pain point. It features an image of a soldier on a stretcher, asking why trauma triage is still done by physical exam in the field. Below the text are three ultrasound images labeled 'Inside the Skull,' 'Inside the Lung,' and 'Long Bones.' This is a direct challenge to the status quo, as traditional ultrasound typically cannot image through the skull or through gas in the lungs.

Slides 4-7: Clinical Evidence and CT Comparisons

These slides form the technical heart of the deck. Slide 4 compares CT imaging planes to MAUI CET imaging planes. Slide 5 and 6 show cranial imaging of a 62-year-old adult and a 16-year-old male, respectively. The use of specific patient cases (e.g., 'Status Post Chiari Grade 1.5 Decompression') signals that the technology is already being used in complex clinical scenarios. Slide 7 shows a 3-month-old with an arachnoid cyst, explicitly noting that images were obtained 'without utilizing anterior or posterior fontanelle(s)'—meaning they imaged directly through the bone, a feat impossible for standard ultrasound.

Slide 8: Overcoming Physical Barriers

Slide 8 addresses a specific clinical workflow: endotracheal tube (ET) placement. It states that traditional ultrasound cannot image below the sternum due to air/gas interference, but MAUI allows for bedside guidance. This is positioned as a way to reduce the need for X-rays, saving time and reducing radiation exposure in emergency settings.

Slide 9: The 'Why MAUI?' Summary

This slide acts as a bridge between the clinical evidence and the business case. It features quotes from a Trauma Physician and a Professor of Neurosurgery. The Trauma Physician quote is particularly powerful, stating that the four areas MAUI addresses (skull, thoracic cavity, long bones, and abdomen below bowel gas) are where they spend '80% of our time.' The slide also reiterates the IP count, now updated to 'Over 160 US and OUS Patents.'

Slide 10: Military Funding

Slide 10 mentions the 'MRDC Military Project Funding Effort.' This suggests that the technology has been vetted and partially funded by the Department of Defense, providing a non-dilutive validation of the technology's utility in harsh, 'battlefield' environments.

Slide 11: The Physics of Computed Echo Tomography

This slide explains the technical differentiator. It contrasts the 'Traditional Ultrasound Process' (high-energy, ballistic pulses) with 'MAUI’s Patent Ultrasound Process' (low-energy, unfocused pings). The diagram shows how MAUI's approach uses reflected energy from multiple flight paths, processed with proprietary algorithms. This is the 'secret sauce' that explains how they bypass traditional imaging barriers.

Slide 12: Data and AI

MAUI positions itself as more than just a hardware company. Slide 12 explains that by aggregating and storing the 'entire raw dataset,' they can win with AI toolsets. This is a common Series D play: moving from a device sale to a data/software platform play to justify a higher valuation.

Slide 13: The IP Moat

This is one of the most complex slides in the deck, featuring a 'bubble map' of their 163 patents. It categorizes patents into 'Core,' 'Peripheral,' and 'Filed & Pending.' The sheer density of this slide is intended to intimidate potential competitors and reassure investors that the technology is legally defensible.

Slides 14-16: Market Analysis

Slide 14 and 15 break down the TAM. MAUI isn't just looking at the $9.7B ultrasound market; they are targeting the $17B CT and MR market and the $22.8B interventional radiology market. Slide 15 provides specific penetration targets: a 10% opportunity in CT/MR ($1.7B) and a 35% penetration into existing ultrasound applications ($3.4B). Slide 16 provides a vendor analysis of the 2024 ultrasound market, likely to show where MAUI fits among giants like GE, Philips, and Siemens.

Slide 17: Leadership and Board

The final slide is a 'who's who' of the medical imaging industry. The presence of former top executives from Siemens Ultrasound and Philips Ultrasound is a massive signal of credibility. It suggests that the people who built the current industry leaders believe MAUI is the next evolution of the technology.

What MAUI Imaging Does Well

The deck is exceptionally strong on technical validation . In the medical device space, 'seeing is believing,' and MAUI provides ample side-by-side comparisons with CT scans and traditional ultrasound. They don't just claim to be better; they show the specific clinical instances where they succeed and others fail.

The IP positioning is also handled with a level of detail rarely seen in earlier-stage decks. By Slide 13, an investor is convinced that MAUI owns the 'Computed Echo Tomography' space entirely. Furthermore, the team slide is perfectly tailored for a Series D round, showing that the company has the 'adult supervision' and industry connections necessary to scale a complex hardware business.

What is Missing from the Deck

Despite the $14M raise, the deck has several notable omissions that would be standard in most fundraising presentations. First, there is no 'Ask' slide . We know from publisher reports that they raised $14M, but the deck itself does not state the amount sought or the intended use of funds. This suggests this version of the deck may have been used for clinical partnerships or as a 'teaser' for deep-dive due diligence.

Second, there are no unit economics or financial projections . There is no mention of the cost to manufacture the device, the expected sales price, or the current revenue run rate. While they mention 'Initial Targets' and 'Addressable Market,' they don't show a clear path to profitability or even a historical growth chart. For a Series D, one would expect to see some evidence of commercial traction beyond clinical trials and military grants.

Finally, the competitive landscape is only hinted at. While they compare themselves to 'Traditional Ultrasound,' they don't name specific startups or emerging technologies that might also be working on adaptive beamforming or portable CT-like solutions.

Lessons for Founders

1. Lead with the 'Impossible': If your technology solves a problem that was previously thought to be a law of physics (like ultrasound not going through bone), make that the center of your deck. MAUI’s repeated use of cranial imaging slides is their strongest selling point.

2. Use Industry Giants as Validation: If you can’t get a pilot with a major player yet, recruit their former leaders. Having the former President of Siemens Ultrasound on the board is a shorthand way of saying, 'The experts in this field think this is the future.'

3. Map Your IP: For hardware and deep-tech companies, a simple 'we have patents' bullet point isn't enough at later stages. A visual map of your IP portfolio, as seen on Slide 13, demonstrates a strategic approach to protecting your innovations across multiple sub-sectors.

4. Segment Your TAM by 'Beachhead': Don't just give one big number. MAUI breaks their market down into ER/Trauma, Interventional, and Traditional Ultrasound, with specific dollar amounts and penetration percentages for each. This shows a sophisticated understanding of how they will actually go to market.